Wayne Hummer Investments L.L.C. Raises Stake in General Motors Company (GM)
Wayne Hummer Investments L.L.C. boosted its position in General Motors Company (NYSE:GM) (TSE:GMM.U) by 42.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,254 shares of the auto manufacturer’s stock after buying an additional 6,589 shares during the period. Wayne Hummer Investments L.L.C.’s holdings in General Motors Company were worth $787,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in GM. State of Alaska Department of Revenue purchased a new stake in General Motors Company during the first quarter worth $103,000. LeJeune Puetz Investment Counsel LLC purchased a new stake in General Motors Company during the fourth quarter worth $119,000. North Star Investment Management Corp. increased its stake in General Motors Company by 0.8% in the first quarter. North Star Investment Management Corp. now owns 5,215 shares of the auto manufacturer’s stock worth $184,000 after buying an additional 42 shares during the last quarter. Alpha Windward LLC increased its stake in General Motors Company by 0.4% in the first quarter. Alpha Windward LLC now owns 5,417 shares of the auto manufacturer’s stock worth $192,000 after buying an additional 21 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC purchased a new stake in General Motors Company during the fourth quarter worth $197,000. Institutional investors own 74.70% of the company’s stock.
General Motors Company (NYSE GM) opened at 34.35 on Tuesday. The firm has a market capitalization of $51.84 billion, a PE ratio of 5.31 and a beta of 1.35. The stock’s 50 day moving average price is $33.80 and its 200 day moving average price is $35.41. General Motors Company has a 52-week low of $27.34 and a 52-week high of $38.55.
General Motors Company (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Friday, April 28th. The auto manufacturer reported $1.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.45 by $0.25. The company had revenue of $41.20 billion during the quarter, compared to the consensus estimate of $37.38 billion. General Motors Company had a return on equity of 22.82% and a net margin of 5.92%. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period last year, the business posted $1.26 EPS. On average, analysts predict that General Motors Company will post $6.05 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 23rd. Stockholders of record on Friday, June 9th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $1.52 annualized dividend and a dividend yield of 4.43%. General Motors Company’s dividend payout ratio is presently 23.53%.
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A number of equities research analysts have recently weighed in on GM shares. Nomura upgraded General Motors Company from a “neutral” rating to a “buy” rating in a research report on Monday, March 6th. Instinet upgraded General Motors Company from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $36.00 to $45.00 in a research report on Monday, March 6th. Jefferies Group LLC reiterated a “buy” rating and issued a $36.00 price objective on shares of General Motors Company in a report on Tuesday, June 13th. BidaskClub upgraded General Motors Company from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $40.00 price objective (down previously from $44.00) on shares of General Motors Company in a report on Friday. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $38.94.
In other news, insider Mark L. Reuss sold 75,000 shares of the firm’s stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $33.35, for a total value of $2,501,250.00. Following the completion of the sale, the insider now directly owns 133,052 shares in the company, valued at approximately $4,437,284.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Stefan Jacoby sold 2,670 shares of the firm’s stock in a transaction dated Monday, April 10th. The shares were sold at an average price of $33.85, for a total value of $90,379.50. Following the completion of the sale, the insider now owns 83,065 shares of the company’s stock, valued at $2,811,750.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 126,828 shares of company stock valued at $4,208,691. 0.04% of the stock is currently owned by company insiders.
General Motors Company Company Profile
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.
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